Banco Popular Takes English Name To Lure Customers
SANTA ANA (AP) — Banco Popular is changing its name in Southern California to lure more non-Hispanic customers.
Bank Senior Vice President Manuel Chinea says the bank realized its Spanish-language name was an obstacle when it bought a Whittier-based bank in 2004 and lost non-Hispanic customers.
The bank’s new name in Southern California will be Popular Community Bank.
Chinea told the Orange County Register that a similar rebranding effort in Illinois helped the bank attract larger accounts from both Hispanic and non-Hispanic customers.
Banco Popular was founded in Puerto Rico in 1893. The bank has 24 branches in Los Angeles, Orange and San Diego counties.
(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)